Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (27349)	10/29/1997 9:36:00 AM
From: Carlyle	Respond to of 58727

Good morning All, Tom, I appreciate the insights you are contributing as well as everyone elses on this thread! (Don thanks for the earlier post.) I will be following this & the Idea threads' sentiment to judge when I re-enter the market. I have been sitting on the side lines for a while (Jim certainly remembers why <gg>>). After having just caught up on all the posts, it is interesting to note the dynamics/emotions that might follow a several hundred point jerk. (If I ever see OJ in a down mood we are all probably in trouble <<gg>>.) As I might imagine OJ saying "Show me the money!!!!!!" Good trading all. Carlyle :{)

To: Tom Trader who wrote (27349)	10/29/1997 12:54:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Tom, As of yesterday's data, I had noticed quantified technical signals of very strong unhealthiness and abnormality. I was interpreting such that the probability of a retracement of somekind was at maximum levels. Remember, news over rides the technicals. I am now getting the strong impression that GREENSPAN speech just changed the technicals in such a way that it has brought the technicals back to normality, contrary to my view last night that is is unhealthy. This is why I am believing such - as Greenspan was speeking the DOW ran from 10 points up to 120, and at the same time the interest rates also ran down substantially. If there was no change or down movement in stock prices during his speech, I would have interpreted that as the interim top of the stock prices. But since the market ran up strongly, such action is totally throwing a portion of my analytic analysis way off. Tom, you mentioned the contrarian point of view, which I may or may not have since I just follow my technicals and whichever way it goes I just follow. But since you mentioned it the normal view by the majority of the brokers I speak to and most of those interviewed by CNBC and the posts on SI all indicates that the majority of the traders feel that the market will come down to retrace at least a portion of the recent gains. I had also believed that per last nights data. The long term investor is not really caring about these very short term moves since the levels perceived by them are still relatively low. Ok, here's the next possibility - as I am writing this note the market ran down from up 120 points to negative - could that have been the retracement that everyone was looking for. Ok to recap - I am now changing my position from last night, and that is that any pullback will just be a normal technical pullback, of course unless some bad news hits the wire. Therefore I am now taking the contrarian point of view amongst most traders that the market now will continue up in a normal technical manner. Please keep in mind that I am not a bull or bear, just a boring technical analyst looking for a girlfriend(laughing).